Mortgage and Financial News From 2007-8-24 Page 13

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• Fitch Affirms UGRIC and Ezer Mortgage Insurance Co. IFS Ratings

  Forbes - Fitch Ratings affirms the insurer financial strength (IFS) rating of United Guaranty Residential Insurance Company (UGRIC) at 'AA+' and assigns a long-term issuer rating of 'AA' to United Guaranty Corporation (UGC), the holding company for American ...
  2007-08-23 05:14:00

• Banks may grab more mortgage business (The Clarion-Ledger)

  Where other lending executives see misfortune, Ronald Hermance sees a chance to grab business from the competition. Hermance's bank, Hudson City Bancorp Inc., a regional savings and loan in Paramus, N.J. with $50 billion in assets, is handling a 25 percent increase in mortgage applications this year, even as investors stay away from nearly all types of home loans.
  2007-08-24 06:04:53

• Fitch Assumes More Mortgage Defaults (AP via Yahoo! Finance)

  Fitch Ratings said Thursday it is changing the way it judges insurers' credit risks to assume more borrowers will default on their mortgages, possibly leading to some downgrades of mortgage insurers' credit ratings.
  2007-08-23 03:26:21

• RUTH TO THE RESCUE: Check insurance before renting home (Detroit Free Press)

  If you've tried to sell your home and are now thinking about renting it instead -- one thing you need to check is your insurance policy.
  2007-08-24 07:23:33

• Burns: Long-term care insurance a good deal for some (Houston Chronicle)

  Q: I am 60 years old. My financial adviser is strongly urging me to buy long-term care insurance (before September, when Genworth is raising its rates). I'd appreciate your thoughts.
  2007-08-24 05:48:24

• Fitch to Update U.S. Mortgage Insurance Capital Model to Reflect Recent Default Experience (Business Wire via Yahoo! Finance)

  NEW YORK----Effective today, Fitch Ratings Mortgage Insurance group has announced that it will be incorporating several enhancements to its existing proprietary MI capital model reflecting the rapidly changing mortgage environment being experienced in the U.S.
  2007-08-23 02:23:00

• Fitch Affirms UGRIC and Ezer Mortgage Insurance Co. IFS Ratings (Business Wire via Yahoo! Finance)

  NEW YORK----Fitch Ratings affirms the insurer financial strength rating of United Guaranty Residential Insurance Company at 'AA+' and assigns a long-term issuer rating of 'AA' to United Guaranty Corporation , the holding company for American International Group's (AIG: issuer default rating of 'AA') global mortgage insurance operations, which include UGRIC.
  2007-08-23 05:17:00

• Fannie and Freddie, old and new

  Los Angeles Times - ... sub-prime mortgage debacle are arguing for Congress to let Fannie Mae and its twin, Freddie Mac (the Federal Home Loan and Mortgage ... created by their special chartered status have allowed them to dominate the market by borrowing at lower rates than ...
  2007-08-24 06:50:00

• Dollar Falls Against Euro, Pound

  US News and World Report - The U.S. currency rose against the yen, however, as investors' appetite for risk returned after Bank of America Corp. announced late Wednesday it would bail out the nation's largest mortgage company. In Japan, the central bank left interest rates ...
  2007-08-24 12:37:00

• Strong ARMs are crushing borrowers

  Baltimore Sun - Strong ARMs are crushing borrowers Rising rates at heart of mortgage and credit crises By Laura Smitherman | sun ... Cornelia Barnett, 44, said she and her husband are struggling after the adjustable mortgage on the Edgewood home they bought ...
  2007-08-24 07:54:00

• Asia may avoid mortgage crisis fallout

  BusinessWeek - ... warn that the situation could quickly blow up again if concerns over the subprime issue -- the rising default rates among U.S. mortgage ... expensive in overseas markets, also potentially reducing the value of profits earned abroad when brought back home ...
  2007-08-24 07:04:00

• Asian Currencies Rise as Investors Buy Emerging Market Assets

  Bloomberg - ... on speculation the region will attract overseas investors as its economy withstands losses tied to the U.S. subprime mortgage ... Asian currencies climbed against the yen as Japan, Asia's biggest economy, kept interest rates at 0.5 percent yesterday ...
  2007-08-24 08:15:00

• Stock sale aids mortgage giant

  Baltimore Sun - ... Corp. as it tries to outlast the credit crunch squeezing Wall Street and the mortgage ... tough time staying profitable given the overall bleak housing forecast, as home ... getting sweet-talked and misled by Countrywide agents only to face jacked-up rates ...
  2007-08-24 08:08:00

• Rise in jumbo rates puts the burden on borrowers

  Gazette - Sure, I’m concerned with the interest rates going up for jumbo mortgages,” he said. ‘‘Whoever buys our home will likely need a jumbo mortgage. ... We have a lot in the Philippines that we’ve already purchased and want to build on that as ...
  2007-08-24 06:50:00

• Mortgage rates drop amid recent Fed action (USA Today)

  Rates on 30-year mortgages sank this week to their lowest point since late May, providing a little ray of sunlight for would-be home buyers.
  2007-08-23 08:47:11

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